Question
finance charges
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answers to the nearest cent.)
$500 balance, 17%, $50 payment
(a) previous balance method
(b) adjusted balance method
(c) average daily balance method
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answers to the nearest cent.)
$500 balance, 17%, $50 payment
(a) previous balance method
(b) adjusted balance method
(c) average daily balance method